25 Sep 2020
By Jakub Wróblewski, Manager at Sollers Consulting
at InsuranceDay
As the pandemic increases the pressure on motor premiums and as governments promote electric vehicles, the move to technology enabled products will be the key to success for insurers
With increasingly competitive pricing and the possibility of rising claims, as people choose to use their cars instead of public transport, insurance companies are under pressure from two sides. Companies have managed insurance cycles for decades and learnt how to adapt their organisations to rising claims costs and lower premiums.
But now there is a third factor that will change the motor insurance markets in a way we have not seen before: technology.